Justin Ishbia

And so, to me, it's very much reputation, technical skill set, and a willingness to learn and a curiosity and want to grow.

Those are the things I really focus on.

There's always the minutia of customer concentration and reputation, but reputation is encapsulated so much because this is a role.

It's not even buying one business and staying still.

We're growing our business usually over 100% per year, organically and organically.

I would say if you've seen a one-lever roll-up, you've seen a one-lever roll.

They're snowflakes.

Like they're restaurants.

They're good restaurants.

They're bad restaurants.

Same type of dynamic.

Oftentimes, they get bigger also.

The founders have already left the organizations.

Now, in the earlier stage, when we start, these founders are very hungry, want to grow these businesses, and we get to under-lever.

So we don't put pressure on these teams with leverage.

We under-leverage, and there's no leverage at all.

Also, I would say people point fingers at roll-ups in a way because the target's on the back of the winner.

It's hard to identify all the small little ones.

And yeah, when you have 4,000 employees, you're going to have some who are disgruntled and there are going to be some who leave the organization.

So you hear more of that noise versus a four location versus a 400 location.